The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-15
MONEY, BONDS AND STOCKS.

The Market Seriously Affected by the Big
Break in Wheat at Chicago.
NEW YORK, June 14-Money on call was
sasy at act per cent, the last loan being made
n a. closing offered al per cent
Prime mercantile paper. sac per cent
Sterling exchange was dull at 81 SAL for
pixty.day bills and a. Sc for demand.
The total sales of stocks to-day were 36s.456
shares, including the following Canada South
ern CISCO; Delaware, Lackawanna & Western,
I6 225; Erie l6. 800; Kansas & Texas, A. 100; Lake
Shore, - 300; Louisville g. Nashville, IA. Bis:
Missouri Pacific, 6.623; Northwestern. IA, 620;
New Jersey Central, 4,64S; Northern Pacific,
4,3Is; Oregon G. Transcontinental, 3. i65; Pacific
Mail, 5000; Reading, 60, 400: St. Paul, 29,os0;
Pacific, $3.50; St. Paul g. Omaha, 1885, Texas &
Pacific, A. 1850: Western Union, 20,0 JO; Wheeling
s. Lake Erie. 1890
The dealings in stocks to-day, after the first
hour were on much larger scale than has been
seen for several weeks. The break in the wheat
deal in Chicago this morning. following the ex-
element in the coffee market the last few days,
caused a great deal of excitement and apprehen-
sion among the smaller class of operators, who
now hold most OF the floating stock, and their
efforts to realize upon their holdings gave the
first impetus TO the downward movement, which
assumed larger proportions later in the day.
The room traders, who. at present. are bearish
almost to a man. Joined in the selling movement
Erie early became the special point of attack,
and account of the locality of the trouble the
grangers also were freely sold. Richmond x
West Point specially weak early in the day.
but better held on largely reduced bust
ness during the afternoon. Among the special
ties. Denver preferred, Oregon Navigation. Lake
Erie g. Western preferred, and Hooking Coal
we're prominent for the decline established. The
trunk lines and coal stocks were comparatively
firm, and, though considerable pressure was
brought against New England, it received good
support. and was only fractonally lower at the
close. The opening was irregular and though
the changes we're for Insignificant fractions only.
declines were in majority. The business of
the first hour quiet to dull, and prices,
though at first weak. later recovered Soon after
III o'clock, however, the rush to sell began. and
the transactions of the second hour were about
double those of the first. Prices moved
off rapidly, and by noon were ! to
IL per cent below the opening fig
ures There fractional recovery in the
early part of the afternoon. but the decline was
soon renewed, and the losses up 20 F. NJ, when
the lowest prices of the day generally
made, about equal to those of the fore
noon In the last hour the covering of shorts
turned the tide and material recovery was made
before the close which was quiet and firm. The
active stocks are, almost without exception.
lower this evening: Wheeling 81 Lake Erie is
down 81; Oregon Navigation. q; Hooking Coal
IL; Denver preferred & Omaha IL; Lake Erie
cent
Railroad bonds were extremely dull; sales,
81, 070, coo. Prices sympathized closely with
shares, and remained heavy to weak throughout
the day, Wabash general certificates being con-
spcuous for a sudden break of per cent.
Government bonds were dull and steady
State bonds dull and steady to firm.
Inc1f Mn zxrnr